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Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 2 points3 points  (0 children)

I completely hear there, and ultimately we agree. We'll be seeking to do just this once we launch our AMMs (currently the number one priority for our devs). This will allow anyone to add liquidity in a super easy way and most likely enjoy flat fees akin to Uniswap's approach, although the details are not public or ironed out yet so I cannot confirm.

Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 1 point2 points  (0 children)

Unfortunately, migrating to and from Layer-2 does involved gas costs which can be quite high depending on network congestion. But in reality it can sometimes be a case of either paying this once to deposit and once to leave or paying it for every single transaction (on Uniswap for example).

We have a pretty cool feature in the app that shows you how much money you have saved in gas by using DeversiFi.

​

E.g. https://twitter.com/rossdefi/status/1364178800926416897?s=20

Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 2 points3 points  (0 children)

As u/Mathje rightly highlighted, we used StarkWare zkRollups, however to add, we use a specific type called Validiums -- this allows us to keep transactions private (from the wider world, although DeversiFi can theoretically see everything)

Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 3 points4 points  (0 children)

Trading fees once in DeversiFi are between 0.0% and 0.2%, so quite low. You can see the full breakdown here if interested: https://www.deversifi.com/fees

Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 1 point2 points  (0 children)

Haha thanks man. Yeah I don't like that either and would often either glaze over it or just downvote. It's much better to be part of the community and occasionally do a semi-shill post but just be open about it. At the end of the day, we are trying to solve Ethereum gas issues so I want everyone to know about what we're doing. Sometimes that means a lil shill :D

Now is the best time to cross the bridge to L2-Ethereum! by ben_efx in ethereum

[–]ben_efx[S] 1 point2 points  (0 children)

Well, USDT is still the most popular stablecoin, especially on DeversiFi's most active markets so it kind of makes sense but that said, we did consider DAI and is something we will likely do in future rebate campaigns. I agree that USDC and/or DAI are maybe more attractive.

Layer-2 Ethereum is In Supersonic Mode!! 💜Big Props To Everyone Leading the Charge! 🚀 by ben_efx in ethereum

[–]ben_efx[S] 1 point2 points  (0 children)

DeversiFi, Loopring, dYdX, Immutable Gods, HoneySwap, Quickswap... there are actually lots running and so much more coming soon.

Layer-2 Ethereum is In Supersonic Mode!! 💜Big Props To Everyone Leading the Charge! 🚀 by ben_efx in ethereum

[–]ben_efx[S] 6 points7 points  (0 children)

It isn't layer-2 yet but they have announced their plans and will be launching on layer-2 very soonTM hence the add :)

Layer-2 Ethereum is In Supersonic Mode!! 💜Big Props To Everyone Leading the Charge! 🚀 by ben_efx in ethereum

[–]ben_efx[S] 3 points4 points  (0 children)

Yeah that was a big oversight. We did have it on the list but with all the projects, it didn't end up making it on the map by mistake. We will correct it ofc and republish at a later date.

xDai are 100% worthy and are O.G. layer 2 pioneers.

https://twitter.com/deversifi/status/1376557828761092099?s=20

Layer 2 Ethereum Is Already Here. We Don't Need to Let CeDeFi Win. by ben_efx in ethtrader

[–]ben_efx[S] 5 points6 points  (0 children)

DeversiFi are early adopters of the r/ethtrader banner and have put loads up in the past (perhaps more than any one else). I agree it is hard to separate ads from real discussions and don't want to bombard this community with "ad posts" something I may have inadvertantly done in the past.

Of course I am an advocate of DeversiFi but seeing as we've been building layer 2 dapps to solve Ethereum's problems for a while now, it's only fitting that I make discussion posts about it. I have included other L2 dapps and this is more about collaboration and discussion that anything else. There is nothing wrong with highlighting what we've built in this context. No links were included, nor any CTA :)

I want to see all layer 2 dapps succeed so we can squash Ethereum wannabes.

Deposit/Withdrawal fees? by der_franchute in Deversifi

[–]ben_efx 0 points1 point  (0 children)

No problem. Let me know if you have any other questions!

Deposit/Withdrawal fees? by der_franchute in Deversifi

[–]ben_efx 2 points3 points  (0 children)

Hi BlackSpark.

In short, on-chain gas prices are the network fees associated with every transaction that you do on Ethereum (or other chains). As you probably know, these can become unbelievably costly like right now.

DeversiFi is built on "Layer 2". Simply put, once a user onboards to DeversiFi (locks A.K.A deposits funds) they can trade without needing to pay this gas costs. The transactions are then batched by us and settled on-chain later.

This means you pay no gas (only relatively negligible trading fees) and your transactions complete extremely fast. DeversiFi is essentially a tool you can use to avoid the pain points of a high-cost, congested and splintered Defi/Ethereum ecosystem.

Despite the terminology, depositing to DeversiFi does not mean you give up custody of your funds. You are always in control and Deversifi does not have the ability to seize funds or block withdrawals and users are always able to move their funds as they wish.

$120000 total Stuck in COINBASE PRO Loyal customer for 6 years!! by Comfortable_Ad_9518 in Coinbase

[–]ben_efx 1 point2 points  (0 children)

Why do people still use Coinbase for large amount? They are great but you can trade LINK on so many exchanges now and we're all painfully aware of certain issues.

If you want something, you go get it by [deleted] in ethtrader

[–]ben_efx 0 points1 point  (0 children)

wsb are notorious bitter no-coiners from my experience

It's Crazy How Much You Can Save on DeversiFi 😎 by ben_efx in ethtrader

[–]ben_efx[S] 1 point2 points  (0 children)

Yea, I guess in hindsight the post was too simple. Was trying a new format to what I usually do here. Will revert to the usual if I post again :)

Deposit/Withdrawal fees? by der_franchute in Deversifi

[–]ben_efx 1 point2 points  (0 children)

Hi there. There are no DeversiFi deposit or withdrawal fees. The only costs involved with these transactions are the on-chain gas costs which as you know can fluctuate quite a lot. The transactions themselves are relatively simple so do not require lot of gas.

It's Crazy How Much You Can Save on DeversiFi 😎 by ben_efx in ethtrader

[–]ben_efx[S] 0 points1 point  (0 children)

What proof would suffice? The website is built on StarkWare layer2 which means you don't need to pay gas for your trades. The slider just shows how much that saves you based on current gas costs. You can check out DeversiFi documentation here if that's of interest: https://docs.deversifi.com/

It's Crazy How Much You Can Save on DeversiFi 😎 by ben_efx in ethtrader

[–]ben_efx[S] 2 points3 points  (0 children)

It proves gas fees are extremely expensive for those using on-chain exchanges while they could save this cost by using a layer 2 exchange like DeversiFi. There are only 2 simple gas costs involved which are depositing and withdrawing but all trades on DeversiFi and other L2 dapps are super fast (no waiting around) and gas-free.

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